1949: Nate Berkus on Entrepreneurship, Design, and Financial Confidence

Summary

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Podcast Summary: So Money with Farnoosh Torabi

Episode 1949 – Nate Berkus on Entrepreneurship, Design, and Financial Confidence

Release Date: February 25, 2026
Host: Farnoosh Torabi
Guest: Nate Berkus

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Episode Overview

This episode features a republished conversation from the So Money archives between host Farnoosh Torabi and renowned interior designer and entrepreneur Nate Berkus. The discussion, though originally recorded over a decade ago, offers timeless wisdom. Farnoosh and Nate explore the intersections of money, design, and entrepreneurship, tackling financial philosophies, personal stories, business failures and successes, and how both home and money should support an authentic, meaningful life.

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Key Discussion Points & Insights

1. Nate's Professional Milestones and Personal Updates

• Celebrating the 20th anniversary of his design firm and the arrival of his daughter, Poppy.
  • “Twenty years into the design firm that I founded in Chicago... I think my team and I are exactly where we want to be, that our professional life is very much aligned with what our passions are. And I love that. And I think that's always been the secret to success.” – Nate Berkus (05:12)
• Pride in achieving alignment between personal, professional, and family life.

2. Design Philosophy & Access to Good Design

• Berkus emphasizes design should be accessible and personal for everyone.
  • On his long-standing Target collection:
    “Our home should be a place that we love and that they should tell our story and the way that we tell our story in our homes is through the things and the choices that we make and what we allow into them.” – Nate Berkus (06:32)
• The Target line aims to complement, not dictate, consumers' existing spaces.
  • “It's an opportunity for somebody to just turn the cart in the aisle and just smile because they see a vase or a picture frame or a color of a towel or a bedding that they really like and connect to and can see living with on a daily basis.” – Nate Berkus (07:45)

3. Home as a Story

• Homes should reflect who we are through meaningful pieces.
  • “You have to stand at your front door and say, this piece can come in... because I love it, and I want to see it every day.” – Nate Berkus (10:01)
• Authenticity and intentionality in design choices are fundamental.

4. Partnership & Collaboration in Design

• Berkus collaborates with his designer husband, Jeremiah; they value each other's opinions and see creative process as additive, never competitive.
  • “We never fight about design… there’s not one correct way to do something… That’s the beautiful part about design, that everyone is allowed to have an opinion, and everyone should have an opinion.” – Nate Berkus (11:00)

5. Money and Financial Philosophy

• Berkus' approach is rooted in financial confidence—he rejects fear-based money management.
  • “I’m not going to be afraid of money. I’m not going to be afraid of having it. I’m not going to be afraid of earning it. I’m not going to be afraid of making a mistake with it.” – Nate Berkus (13:10)
• Stresses the paralyzing effect of fear and the power of a mindful, abundant-oriented mindset.
  • “There’s two types of people in the world. The people who operate from a place of fear or the people who operate from a place of abundance... If I make a mistake, I’ll figure it out. I’ll be able to handle the consequences.” – Nate Berkus (16:19)

6. Money Stories & Lessons from Family

• Berkus credits his parents for modeling financial intrepidness, especially his mother, who transitioned to entrepreneurship without fear.
  • “My mother was an interior designer and an artist, and when she started a jewelry line, she went and bought what she needed for it. And she wasn't afraid that it would never sell...” (14:25)

7. Building a Business and Learning When to Ask for Help

• Early mistake: Trying to handle both creative and administrative sides of his business alone.
  • “I believed that I could do it all... And it was probably into my very first design project where I was like, this is a train wreck. I can't add. I am terrible with math, and I have no business doing this. I need help.” – Nate Berkus (26:41)
• Hired and retained the same accountant for 20 years.

8. Choosing Trusted Financial Advisors

• Importance of word-of-mouth, references, and gut instinct in selecting advisors.
  • “I do it the same way. I pick a dermatologist and a nanny. It's through word of mouth and through my gut instinct and through references that I check.” – Nate Berkus (28:28)
• Values open, honest dialogue with financial team.

9. Habits & Daily Practices Around Money

• Meticulously organizes the bills in his wallet as a sign of respect for money.
  • “I cannot have the bills in my wallet be disorganized. They all have to be facing the same way, and they all have to be in order in terms of the bills... if you're not organized with your money, it's a sign of not respecting your money.” – Nate Berkus (29:32, see also the episode opener at 02:27)

10. Fill-in-the-Blank Insights (Rapid-Fire Segment)

• If I won the lottery... “The first thing I would do is pay my taxes.” (31:19)
• One thing that makes my life easier or better: “Help. We have a nanny... I'm happy to pay someone [if] I could be shifting my focus onto something else.” (31:44)
• Biggest guilty pleasure: “Furniture and decoration... I buy so many things that now I have my own storefront on first dibs. So I sell the things I don't want anymore.” (32:19)
• Charitable giving: Favors no-kill animal shelters, notably P.A.W.S. in Chicago. (33:12)
• I'm so money because... “I keep my wallet organized.” (33:51)

11. Memorable Career Moment: Oprah’s Endorsement

• Oprah’s public recognition gave Nate a huge platform and responsibility, which he took seriously:
  • “Oprah lifted my hand and said, Nate Berkus. Remember his name. And I knew at that moment that I had a big responsibility and that I was also being given a huge gift.” – Nate Berkus (23:32)
• Maintained a strong work ethic and sense of responsibility to his audience and clients.

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Notable Quotes & Timestamps

• “I cannot have the bills in my wallet be disorganized. They all have to be facing the same way and they all have to be in order in terms of the bills...”
  — Nate Berkus (02:27, 29:32)

• “I’m not going to be afraid of money... I’m going to just be very aware, and I’m also going to take the risks that I think and I truly believe will pay off for me.”
  — Nate Berkus (13:10)

• “There’s two types of people in the world. The people who operate from a place of fear or the people who operate from a place of abundance.”
  — Nate Berkus (16:19)

• “If I won the lottery tomorrow, let's say you want $100 million. The first thing I would do is pay my taxes.”
  — Nate Berkus (31:19)

• “I really am very conscious of how much time I devote to different things, because if it costs me more to do something and I could be shifting my focus onto something else, then I'm happy to pay someone to do it.”
  — Nate Berkus (31:55)

• “I'm so moneyed because I keep my wallet organized.”
  — Nate Berkus (33:51)

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Important Segments & Timestamps

• Nate’s “wallet habit” for respecting money: 02:27, 29:32
• Design philosophy and Target collaboration: 06:32–08:59
• Home reflecting personal story: 09:17–10:35
• Financial philosophy—choosing abundance over fear: 13:10–17:28
• Oprah origin story & what he learned from her: 18:06–19:37; 23:32
• Early entrepreneurial “failure”—trying to do it all: 26:41–27:45
• Choosing advisors—reference checks and gut instinct: 28:28
• Rapid-Fire ‘Fill in the Blanks’ segment: 31:19–33:51

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Summary & Takeaways

Nate Berkus’ enduring success is rooted in authenticity, relentless curiosity, and a conscious, mindful approach to both design and financial life. He preaches respect for your money—down to how you arrange it in your wallet—along with taking calculated risks, seeking and trusting help, and shedding fear-driven thinking. Whether building a home, a business, or a relationship with money, Nate’s philosophy is clear: it should all be aligned with the life you want and a story that’s sincerely your own.

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For more on Nate Berkus’ design philosophy and practical tips, check out his latest book, Foundations: Timeless Design That Feels Personal.

Transcript

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[Farnoosh Torabi]

So Money Episode 1949 Nate Berkus on entrepreneurship, design and financial confidence.

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[Nate Berkus]

I cannot have the bills in my wallet be disorganized. They all have to be facing the same way and they all have to be in order in terms of the bills. And it's interesting because when you take money out from an ATM or when somebody gives you change, it takes that beat to put the ones together and the fives together and the twenties and in the back and make sure they're all facing the same direction.

[Farnoosh Torabi]

Welcome to Sew Money, everyone. I'm Farnoosh Tarabi. Well, as promised, I am republishing one of the most requested interviews from the archives. My conversation with the one and only Nate Berkus originally recorded, gosh, like 10 years ago, 2015, more than 10 years ago. And so much has changed for all of us, including Nate.

[Farnoosh Torabi (Host, Interviewer)]

But.

[Farnoosh Torabi]

But when I listened back, I gotta say I was struck by how timeless our conversation was and is. You know, my mother in law and I are super big fans of Nate. I was actually a recurring guest on his talk show all those years ago. And I actually brought her with me one time and she was able to sit in the audience and it was such a memorable time for both of us. And for my birthday this year, she gifted me his latest book, which is fantastic. It's called Timeless design that feels personal. And honestly, that's exactly the theme that you're going to hear in our discussion today. That your home should tell a story and your money should tell a story. Your money should support a life that feels authentic to you. And so Nate and I go there. We talk about money, Money, fear versus abundance, building a business, learning when to ask for help. One of his favorite things to do. And Nate's surprisingly great financial habits. This is actually what spark the interest in re airing this. He has some really kind of quirky but important money habits, including he's got this rule about keeping your wallet organized in a particular way. Here's Nate Burkus.

[Farnoosh Torabi (Host, Interviewer)]

Nate Burkus, welcome to Sew Money. What an honor to have you on the show. I'm a little nervous, I have to say, because the roles are reversed. I was on your show a few times back when you had your daily talk show. And I just want to say thank you for doing this great honor for us and being on so Money.

[Nate Berkus]

My pleasure. Farnesh. It's good to be with you again.

[Farnoosh Torabi (Host, Interviewer)]

This has been quite the year for you and it's only August. You have welcomed home a brand new baby girl, Poppy. And it's the 20th anniversary of your design firm. So is there anything that could possibly top this year?

[Nate Berkus]

I don't think so. I think that this year is. I would, I will be very surprised if there's anything that, that that comes down the pipeline in the next few months that there's definitely nothing more important than the birth of our daughter. And it' nice place to be. Twenty years into the design firm that I founded in Chicago because I'm really proud of my team, of the collective body of design projects that we've done all over the world together. And truthfully, with a 20 year Runway, you start to work out what you think are most of the kinks. So we're really in a good place. We're doing fantastic work, I think. And more importantly than that, I think my team and I are exactly where we want to be, that our professional life is very much aligned with what our passions are. And I love that. And I think that's always been the secret to success.

[Farnoosh Torabi (Host, Interviewer)]

I love that also you're making your work so accessible and your idea so accessible to everyday Americans and people all over the world. I walk into Target and there you are. I'm so excited about that collection because really, like everyone says, Target is like Target. It's where you go to find you get more for less. But your line there, truly, it feels rich and it's so money. Talk a little bit about that because that has evolved too over the years.

[Nate Berkus]

The Target. It's funny because I actually spoke to target almost 10 years ago and I wanted to have a long standing collection there that I could keep redoing and refreshing periodically. And at the time, Target was interested in doing sort of one off collections. And so we passed because I had felt really strongly that the Nate Berkus brand at Target could be really successful, that it could translate all of the vintage finds and all of the best crafts and all of of the different materials that I was seeing as I traveled the world. And I wanted it to have a Runway. And you can't do that with something that's on the shelves for a couple of months and then goes away. So people can expect to see Nate Berkus at Target for a long time. We refresh the collections every few months or as needed. Everything is designed internally. My team, my Chicago based team and I start the beginning of every season talking about what we've seen and what we've heard and what we've watched and what we've touched and what materials interested in and what we think will resonate with people. And I guess the most fundamental difference between that I see, between my collection at Target versus any other relationship that I've had, is that I feel very strongly that our home should be a place that we love and that they should tell our story and the way that we tell our story in our homes is through the things and the choices that we make and what we allow into them. So it's never been my intention from day one at Target a couple of years ago through the collection that that's landing in stores in a couple of weeks to have somebody tell my story in their home. The collection's meant to mix and match with things that people already are living with and that they love. It's an opportunity for somebody to just turn the cart in the aisle and just smile because they see a vase or a picture frame or a color of a towel or a bedding that they really like and connect to and can see living with on a daily basis. And so I've had a ton of fun. I continue to have a ton of fun. My team and I have. It's very funny thing to be designing a collection because some ideas are great and some ideas are absolutely terrible. And we catch them usually during the sampling phase when we're in the downstairs basement of a huge Target offices going through all the samples and seeing how they'll look together in the store. But the most important thing is that we have a ton of fun doing it. And I think that comes through with reflection.

[Farnoosh Torabi (Host, Interviewer)]

I really like that saying that your home should tell a story. Hopefully not a very cluttered story. You've said in interviews that your home is pretty simple. It's what story would we see, would we hear, would we be looking at if we were to walk through one of your homes? And I know where is home for you now.

[Nate Berkus]

Home is New York and Los Angeles. And I'm going to let your audience decide what story they think my home tells in Architectural Digest in the October issue, coming out soon.

[Farnoosh Torabi (Host, Interviewer)]

Ooh, suspense.

[Nate Berkus]

So, yeah, we've been keeping everything under wraps in terms of the design of the apartment in New York that Jeremiah and I did together. But I really love how it came out, and it'll be featured in the magazine in October. I can tell you it is honestly the truest reflection of both who Jeremiah, my husband and I are in terms of our aesthetics and what we reach for. And it's a home that's a mix of a lot of different styles with not a tremendous amount of color, but it is. As we look around the room, we can remember exactly where we were when we found a piece or when we decided that it was something that we thought was worthy of crossing the threshold into our lives. And that is really, I think, the big lesson in design. Even with all of these opportunities and choices that people have to make, you have to stand at your front door and say, this piece can come in. This painting, this photograph, this sofa, this pillow, because I love it, and I want to see it every day. I want to interact with it. So the home is. Some people will love it. Some people may not connect to it, but for us, it's authentic.

[Farnoosh Torabi (Host, Interviewer)]

Interesting that Jeremiah also comes from a style background. He's a designer. Right.

[Nate Berkus]

He has his own interior design firm as well, and he's working on projects all over the country. And he's also the host of a new show on OWN called Homemade. Not a new show, but he's the new host of a show called Homemade simple on own, which will air on Saturday mornings.

[Farnoosh Torabi (Host, Interviewer)]

Such a compliment to what you do as well. Do you find yourselves at odds sometimes? And if so, who wins?

[Nate Berkus]

We never fight about design.

[Farnoosh Torabi (Host, Interviewer)]

Never.

[Nate Berkus]

No. We can go to divorce. Never. We actually both really enjoy it. We can go to divorce court over who ate the last piece of pizza, but if it's picking out a coffee table, we. There's no ego involved. And as everyone. Everyone knows, there's not one correct way to do something. To furnish a room, to paint a color, to paint a color on the walls, to figure out what goes on your coffee table. That's the beautiful part about design, that everyone is allowed to have an opinion, and everyone should have an opinion. And hopefully, when you're collaborating and that's really what he and I do in our own homes, two opinions are better than one. The project becomes more interesting and more thoughtful and more layered. And so that's why we both keep our eye on the ball and just enjoy it. It's what we'd like to do on a Saturday.

[Farnoosh Torabi (Host, Interviewer)]

We look forward to that October issue. And I assume there'll be a nursery decorated in there as well, right?

[Nate Berkus]

Yes. And that was so hard not to share the nursery, because for me, on all my social media channels, Facebook and Instagram and Twitter, everyone was like, please show us the nursery. But we had promised it to Architectural Digest along with the rest of the apartment, and I think it's really special. I've never seen a nursery like it's.

[Farnoosh Torabi (Host, Interviewer)]

Nate, when you had me on your show a few times, you were very. I think one of what made you stand out, one of the things was that you really were in tune to your audience's need to save money. So whether it was in the designs that you would suggest and show that were very affordable to even having couples on that were having issues with debt or wanting to save money, I thought that was a very. Just a really great way to be in touch with your audience. So I'm curious. This show is about money, and my audience loves hearing from entrepreneurs and people that they admire about your money story, starting with if you had one or if you have one, a financial philosophy, something that has carried you through, perhaps building your business. And even now, as a husband, as a dad, what is your financial philosophy?

[Nate Berkus]

My financial philosophy, and it's really never evolved from day one. I've always noticed and believed and still believe that there's a lot of fear that people have around money. Not having it, spending it on the wrong things, losing it, making bad decisions. And I think that fear is really paralyzing. So my decision when I started my design firm at 22 years old in Chicago was I'm not going to be afraid of money. I'm not going to be afraid of having it. I'm not going to be afraid of earning it. I'm not going to be afraid of making a mistake with it. I'm going to just be very aware, and I'm also going to take the risks that I think and I truly believe will pay off for me. And some of them have worked and some of them haven't. But I think when we approach money with this anxiety, there's that old saying, you always get what you fear. And I think that that can be true with finances as well as with anything in life.

[Farnoosh Torabi (Host, Interviewer)]

Did you witness this growing up, this anxiety, this fear? Because I'm curious as an adult, if this was something that you were so conscious about. Maybe it was something that you observed as a kid.

[Nate Berkus]

My parents weren't fearful about money. They were comfortable, they weren't, which we were very fortunate. But they weren't afraid to take a risk with money or reach for real estate and have things be tight for a little while. They weren't afraid to invest, I think, in their ideas and in themselves. And I think that lesson was. That was the sort of genesis of the lesson for me, where my mother was an interior designer and an artist, and when she started a jewelry line, she went and bought what she needed for it. And she wasn't afraid that it would never sell or wasn't afraid that she wouldn't be able to do it well. She just went forward. There was an intrepidness about both of my parents around finances. And again, it. Sometimes that works and sometimes it doesn't. But I think that for me, for instance, I've never sacrificed to buy the next apartment or renovate the next house personally. And I've always been very clear on how I wanted to live and what it would cost in order to live that way. And I recognize that it's not Universal. And I certainly did connect to my audience and understand that no matter who you are, you have a budget. It may be unfathomable to somebody what one person's budget is, how much or how little budget, but the truth is that everybody, nobody wants to lose money and give money away. But I really do think that if you can get your brain around it emotionally, if you can contain the fear around not having money, the chances are you're going to pave the way for yourself to be more successful.

[Farnoosh Torabi (Host, Interviewer)]

Yeah, it's like similar to what some of my guests have shared with me on this show is that you want to live in a world where you recognize that the world is abundant and it's a choice. It's a choice. You can decide to see it that way.

[Nate Berkus]

Yeah, absolutely. Truthfully, I've always said that there's two types of people in the world. The people who operate from a place of fear or the people who operate from a place of abundance. And right away, when you meet somebody, if they're coming from a place of fear, there's a lack of confidence, they're suspicious of other people. There's lots of traits and behaviors that are fear based. They're never wrong, they never make a mistake. They live in fear of making a mistake versus somebody who is vulnerable and comes from a place of abundance. If I make a mistake, I'll figure it out. I'll be able to handle the consequences. I'll move forward, I'll admit my shortcomings. I'll be open about the mistakes I've made so other people may learn from them. And I think that vulnerability. Brene Brown, who's a clinical researcher from the University of Houston and quite brilliant, did a TED talk called the Power of Vulnerability and stated in the talk that creativity is the birthplace of, of our vulnerability is the birthplace of creativity. We have to be vulnerable to be creative. And I think, you know, to be successful, you also have to be vulnerable.

[Farnoosh Torabi (Host, Interviewer)]

I totally agree. And Brene, like you, is a friend of Oprah. And I want to talk about that for a little bit, if I may, because I think we all wish that in all our lives, little Oprah might fall. And in your life it was when you were very young starting out with your design firm. And I believe I read that that one of her producers came to one of your openings and one thing led to another and you went on her show. And if you can talk a little bit about that relationship that you have with Oprah, the greatest lesson you've learned from her. And yeah, Just indulge us, if you may, for a little bit, Nate, because we all want to. You're like, first one degree away from Oprah at this point for all of us.

[Nate Berkus]

Exactly one degree from Oprah and like 30 from Kevin Bacon. The relationship that I had with the. With Oprah and her show lasted for. It still lasts until today. The Oprah Winfrey show ended a few years ago, but it was great timing for everyone involved. HGTV was just launching. Design was starting to get some buzz on television. Makeovers had just started, and it did happen that way. I met one of the producers at an art opening that I was having in my gallery space in Chicago at the time, and one thing led to another. It was very organic. And about a year later, one of the producers, not the woman I met, called and said, we're wondering if you would be interested in doing a small space makeover in Boston for the show. And I said, sure, it sounds like fun. When is it? And they said, tomorrow. You need to get on a plane in an hour. And I was like, hold on. We were able to actually. I would take the excitement from the situation and channel that into making some productive decisions and contacting some national home improvement chains and finding out who we could have perform the work on such short notice and would they be interested in being involved in the show. And again, this is back in the early days. We were all working off of Android flip phones. There was no BlackBerry innovation that was 1500 miles away. And in the end, it worked out great and the audience really responded to it. And Oprah lifted my hand and said, nate Berkus. Remember his name.

[Farnoosh Torabi]

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[Nate Berkus]

And I knew at that moment that I had a big responsibility and that I was also being given a huge gift that what I loved to do, which was transform spaces, would now have the opportun to be seen by millions of people around the world. And I took that responsibility very seriously. In over 150 makeovers through the course of the Oprah Show, I behaved from a work ethic standpoint the same way in the last and that I did in the first, because you're really only as good as your last body of work. And I don't believe in resting on your laurels. I don't believe that our reputations should precede us in terms of our work lives and how people should evaluate us. And since I was going on national television on such a fantastic, not only large, but spiritual and emotional and layered platform that the Oprah Winfrey show was and meaningful platform, I knew that I had to toe the line and just show up every single time with the same amount of enthusiasm, the same amount of creativity, and the same amount of effort. Needless to say, the relationship lasted, I think, as long as it did. I had a terrific relationship with my production team and we were able to evolve as the, as the world evolved around design tv, where we would call a company and ask for a sofa. The first couple of times we did makeovers on Oprah and they'd say, oh, we can't get that to you. Of course, by the end, people were like, my office was filled with catalogs of people hoping that we would put their sofa on the show. So it was a great. It was great for a number of reasons. Most of all, I think a lot of people like myself who have fancy residential design firms don't get the opportunity to meet people all over the country and understand the power of transformation, transforming a space and how people really will live in that. And that, I think, is to go back to your earlier very generous statement about my own connection to my audience of my daytime talk show, that's where that came from. Because I recognize that if I was going to be a guy out there designing Pillows. And somebody at the end of the month had an extra $25 to spend, and they chose to spend that $25 on something that I designed. That was a responsibility that I wanted to take seriously. So that's why the quality of the collection is what it is at Target. That's why I moved through the world aware of the fact that when you put things into the marketplace, they have to deliver what you say that they will.

[Farnoosh Torabi (Host, Interviewer)]

You mentioned earlier, Nate, that after 20 years of building your business, you look back and you were. There were some kinks to work out. What was one that maybe financial bend to it? That was like a financial issue or. I asked my guests this question often, which is name a financial failure of sorts that you experienced. What did you learn from it? If you have a story like that, we'd love to hear. And if not, something of that nature, where you had a financial kink to iron out. And how did you deal with it?

[Nate Berkus]

First of all, running a business is, especially running a design firm, is, I would say, half creative, half administrative and financial. And I think the biggest mistake that I made when I started my firm was I believed that I could do it all. I believed that I could come up with this incredibly creative and beautiful solution for somebody's living room and have my accounting be perfect as well. And it was probably into my very first design project where I was like, this is a train wreck. I can't add. I am terrible with math, and I have no business doing this. I'm the guy that should be looking at the lines of the furniture and the scale and what pieces should come in and what pieces of the clients should go. And I need help. I need somebody who's got a really great mathematical brain to be like, no, this is how it works. And strangely enough, the accountant in Chicago who incorporated my company 20 years ago, the articles of incorporation have his name on them, is still my accountant today.

[Farnoosh Torabi (Host, Interviewer)]

Wow, you pick them. Good.

[Nate Berkus]

I guess I do.

[Farnoosh Torabi (Host, Interviewer)]

That's really impressive because I've now I've probably fired two accountants in just, I don't know, five years. Really hard to find people you can trust with your money.

[Nate Berkus]

I have to tell you, with all due respect, I would never be your accountant.

[Farnoosh Torabi (Host, Interviewer)]

I guess that sounds like the worst job in the world, I guess. What's the compliment that you just gave me?

[Nate Berkus]

A huge compliment. I'm terrified.

[Farnoosh Torabi (Host, Interviewer)]

No, but seriously, I guess this segues us into another good money question, which is that how do you feel people out, people who are going to help you with your money and I'm sure you've. You've got a few people helping you with your business and your investments. So how do you. How do you become. How do you judge characters?

[Nate Berkus]

That is a really scary question. In the days of post Madoff and all of these situations, I do it the same way. I pick a dermatologist and a nanny. It's through word of mouth and through my gut instinct and through references that I check. So my finances are run by Keith Bloomfield, who is at Forbes Financial in New York. We have a very open, honest dialogue constantly. He tells me what he thinks I can do and what I can't. He's also a personal friend, so I chose to work with him based on our relationship and watching him do things for other people that I'm friends with that I'm able to have open conversations with about how he performed for them. And you, I think you just do the best that you can. Just cross the T's and dot the I's in terms of checking the references and the past performance.

[Farnoosh Torabi (Host, Interviewer)]

Let's talk about habits. What's a good financial habit that you practice have to be every day, but it is something that you practice with consciousness.

[Nate Berkus]

And I tell you this is probably the most minor thing, but it elevates my consciousness about money. I cannot have the bills in my wallet be disorganized. They all have to be facing the same way, and they all have to be in order in terms of the. In terms of the bills. So I. And it's interesting because when you take money out from an ATM or when somebody gives you change, it takes that beat to put the ones together and the fives together and the twenties and in the back and make sure they're all facing the same direction. But I've always believed that if you're not organized with your money, it's a sign of not respecting your money. And every time I do that, which is multiple times a day, whenever you buy something with cash or take money out of the bank, whenever I do that, it reminds me how important it is to respect money.

[Farnoosh Torabi (Host, Interviewer)]

I need to do that more often because I find myself, like, in line at Starbucks. And they're very nice at Starbucks, but there's a huge line of people behind you. So I feel this need to just get out after I make my order and just shove the money in my purse or in my pocket or in my wallet. And you know what? It does bother me because I'm not.

[Nate Berkus]

Yeah, it bothers me because it's disrespectful to money. And I think that I'll step aside and let the person in line behind me do it, but I'll hold the money in my hand until I can put it away correctly. And it's funny because I'm always on Jeremiah about that too. I'm like, listen, you can't just shove money in your jeans. Like, I love that money in your laundry ever.

[Farnoosh Torabi (Host, Interviewer)]

No one has ever said this to me. Although I've heard around that there are people who literally iron their money.

[Nate Berkus]

I don't know if that's ever doing that.

[Farnoosh Torabi (Host, Interviewer)]

Yeah, that's a little. At that point, you're like, what's my time really worth?

[Nate Berkus]

Yeah, exactly.

[Farnoosh Torabi]

Let's do some.

[Farnoosh Torabi (Host, Interviewer)]

So money, Fill in the blanks. You've been such a fun guest, Nate. I'd love to get your stream of consciousness and answers to these sentences that there are these fill in the blanks that I created. So the first one is, if I won the lottery tomorrow, let's say you want $100 million. The first thing I would do is pay my taxes.

[Instacart Advertiser]

Okay.

[Nate Berkus]

That would be 160.

[Farnoosh Torabi (Host, Interviewer)]

That's the first thing. Yeah, that's good. We're done. Moving on.

[Nate Berkus]

Yep, that's it.

[Farnoosh Torabi (Host, Interviewer)]

And then with whatever's left, maybe you go to my nice dinner. One thing that I spend on that makes my life easier or better is help.

[Nate Berkus]

We have a nanny for our daughter who's literally worth her weight in gold. I really am very conscious of how much time I devote to different things, because if it costs me more to do something and I could be shifting my focus onto something else, then I'm happy to pay someone to do it.

[Farnoosh Torabi (Host, Interviewer)]

One thing that I splurge on or my biggest guilty pleasure is,

[Nate Berkus]

I mean, furniture and decoration.

[Farnoosh Torabi (Host, Interviewer)]

Where do you find your stuff, Colin?

[Nate Berkus]

I find it all over. I work on. I look on first dibs. In fact, I buy so many things that now I have my own storefront on first dibs. So I sell the things I don't want anymore. I am constantly searching. And quite honestly, when that moment hits for me, when I discover a new artist or a painter, when I find a new ceramicist new to me from the 50s or something, and I really connect to something thing, I pretty much have to have it.

[Farnoosh Torabi (Host, Interviewer)]

One thing I wish I had known about money growing up is

[Nate Berkus]

parents were pretty good preparing me. I have to say, I don't have an answer for that one.

[Farnoosh Torabi (Host, Interviewer)]

Yeah, they did a really awesome job, I think. So when I donate money, I like to give to blank. Because

[Nate Berkus]

I do donate. I do give a Lot of money away. But I think my favorite place to give money to is no kill animal shelters. I have a whole connection to one of the first no kill animal shelters in Chicago called pot Pets are worth saving. And a lot of the things that I do, if I'm asked to be on Hollywood game night, for instance, or if there's a lot of things where people ask you to be involved in something but you don't really win money. You win the opportunity to donate what you win to a cause of your choice. Those are usually front runners, but I try and spread it out.

[Farnoosh Torabi (Host, Interviewer)]

And last but not least, I'm Nate Burgess.

[Nate Berkus]

I'm so moneyed because I keep my wallet organized.

[Farnoosh Torabi (Host, Interviewer)]

Yes. Short of ironing your bills, you keep them straight and organized. We love that. And I think that's a really important tip because I need to do that. I need to be more conscious about that. It's getting out of hand. I have a one year old as well. Or your baby is less than a year. She was born this year, Right.

[Farnoosh Torabi]

She's four.

[Nate Berkus]

She's almost five months.

[Farnoosh Torabi (Host, Interviewer)]

Five months. So any teeth yet?

[Nate Berkus]

No, but she has her finger in her mouth 18 hours a day. So we know they're coming.

[Farnoosh Torabi (Host, Interviewer)]

Yeah, they're coming soon. So cute. Nate, thank you so much for joining me and wishing you. I don't know again how this year could get any better, but we'll be looking out for that architectural digest issue and looking forward to seeing the story that your home tells. Thank you so much.

[Nate Berkus]

Thank you so much, Harnish. And I may call you back for financial advice about the tooth fairy. Don't go away.

[Farnoosh Torabi (Host, Interviewer)]

Yeah, I have to think about that one too. All right, I'll be here. I'll be on stand standby.

[Nate Berkus]

Excellent. Thanks so much. Great to talk to you.

[Farnoosh Torabi (Host, Interviewer)]

Take care. Bye bye.

[Farnoosh Torabi]

Thanks so much to Nate Berkus for joining us all those many years ago. Such a class act. His latest book again is called foundations timeless design that feels personal. It makes for a great coffee table book, a great housewarming gift. I'll see you back here on Friday for ask Farnooch. And I hope your day is so

[Farnoosh Torabi (Host, Interviewer)]

money,

[Farnoosh Torabi]

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